NFT game Guild of Guardians raises $5.3M

Guild of Guardians, an upcoming NFT-based mobile role-playing game, has sold out two tranches of its native token (GEMS) for a total of $5.3 million.

The token auction, which took place on Coinlist on Nov. 30, was 82 times oversubscribed, with over 808,000 people enrolling. More than 10,700 new GEM holders from over 100 countries bought tokens valued at up to $500 each. However, because of rising regulatory worries, users from Australia, the United States, Canada, and China were barred from acquiring tokens.

GOG set aside 6% of the entire 1 billion tokens for the CoinList sale, with the other 63 percent given through community-driven events, activities, and core gameplay.

The soft launch of the play-to-earn game is scheduled for Q1 2022, with 400,000 people having pre-registered.

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The game was created by Ukrainian developer Stepico Games in collaboration with Immutable X, an Australian-based NFT layer 2 scaling solution. On Ethereum, Immutable X is the first layer 2 scaling solution for NFTs.

GOG is releasing on mobile, according to Immutable’s Head of Marketing Nicholas Kelland, so that it is available to the majority of people.

“Not everyone has the most powerful gaming rigs, PCs, and so on. As a result, becoming mobile was a no-brainer for us.

The success of GOG’s original DEX offering (IDO) comes at a time when play-to-earn gaming is growing more popular. Every in-game asset owned by GOG customers is a transferable and exchangeable NFT.

“I believe the notion of in-game asset ownership is inevitable. “It goes back to the notion of the content creator economy and people, people basically owning this material that they ought to own,” Kelland said, adding that “it’s a matter of when not if.”

This follows the inaugural Founder NFT sale, which garnered $3 million in less than 24 hours in June. The second wave brought in $5 million, while the third and final wave brought in more than $4 million.